Irrigated cash rents averaged $200 per acre across the region, and ranged from an average $121 per acre in Alabama to $318 per acre in Florida.

Pasture rents averaged $34 per acre, ranging from $25 per acre in Mississippi to $38 per acre in Georgia.

Rent income yields, which are calculated by dividing gross cash rent by land value, offers insights into the relative pricing of land tracts regionally.

Across the Mid-South/Southeast, non-irrigated tracts are estimated to be generating a 3.6 percent rent income yield; irrigated tracts 4.8 percent and pasture 1.5 percent.

Market outlook

With farm crop prices moderating, survey panelists turned cautious in their outlook for both cropland and pasture values, forecasting that prices would remain stable though the second quarter. Respondents are most optimistic for irrigated cropland tracts, where 48 percent expect prices to increase, while 52 percent look for no change.

Investor demand for irrigated tracts appears strongest in Louisiana and Arkansas where 78 percent and 74 percent, respectively, of respondents look for irrigated land values to continue rising. Interest in non-irrigated tracts is also strong in Louisiana, where 63 percent of respondents forecast higher prices. 


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